Pan Weidong, President of Shanghai Pudong Developm

Pan Weidong, President of Shanghai Pudong Development Bank: 5g+ finance, create and win the era of Zhilian of everything

Hello everyone! It is a great honor to attend the Huawei global finance summit

since 2018, Shanghai Pudong Development Bank has been deploying the research and innovative application of 5g, IOT, artificial intelligence and other technologies, and has been the first in the industry to release the white paper on 5g helping the banking industry and 5g+ smart point. Today, I'd like to share our thoughts and practices in 5g finance

1, 5g lead, open the era of smart connect for all things

looking back at the birth of 4G, we just realized that it increased the speed, and we didn't expect it to completely change the way people entertain, socialize and shop. Mobile payment, shopping, live streaming, car hailing, etc. have become an indispensable part of life. The main channels of banking services have also migrated from physical points and banks to banks

in 2019, 5g has been officially commercial in China. 5g is the commanding height of contemporary mobile communication technology. Superimposed on artificial intelligence, IOT, cloud, big data and other technologies, it is leading us into an era of intelligent connection of all things integrating the digital and physical world

ubiquitous connection will stimulate huge network effect

driven by 5g, it will greatly release the momentum of IOT development, unlock the real scene that was difficult to connect digitally, and eliminate digital islands. The machinery and equipment on the assembly line, the containers loaded in the port and every tourist in the amusement park can be connected

according to industry forecasts, by 2025, ubiquitous access in personal fields, as well as public utilities, manufacturing, medical treatment, agriculture and other industries, will reach a scale of 100billion. At that time, offline will become a historical concept

the value of interconnection comes from the increasing things on the network. When we connect more and more people, things and data through 5g, the power of interconnection increases exponentially. Ubiquitous connection brings huge network effect and unprecedented economic development opportunities

technology integration to realize social intelligence

5g development is not a single technology or a single network. It is more like a catalyst to accelerate the integration and innovation of various information technologies and vertical industries. For example, in smart cities, IOT sensors on devices are like neurons, which collect diverse and massive data in real time. 5g accelerates the flow of data, provides a continuous power for the urban brain, and transforms data flow into intelligent flow, becoming an intelligent guiding force for social operation. In addition, Ultra HD video and ar/vr have been activated because of 5g, industrial interconnection has broken through the transmission bottleneck because of 5g, and the car Union will accelerate the development because of 5g.

the integration of 5g and the new generation of information technology is not a simple addition, but produces a multiplication effect, accelerates the digital and intelligent upgrading of various industries, and realizes the efficient collaboration between people and things, things and things, and the digital and physical world

industrial innovation and improving the energy level of economic development

intelligent interconnection is the accelerator of the construction of digital society. The technological transformation led by 5g will accelerate the innovative development of the industrial end. In addition to smart home and smart city, more new models based on 5g wide coverage, low time delay, customizable smart electricity, telemedicine, smart port, smart culture and tourism will emerge as the times require. The epidemic has further accelerated the online transformation of the consumer side, and people's habits have been forcibly switched from offline to online. Online office, education, online signing, etc. Let us see the great value of the digital world in an extreme state. Driven by two-way factors, industrial upgrading and industrial interconnection will become the new focus of the next stage of development and improve the energy level of economic development

it can be said that the era of intelligent connection of all things led by 5g is promoting changes in social governance, economic development and people's livelihood services. It uses the logic of the digital world to guide the reorganization of resources, processes and models in the physical world. Some people also call it bit guided atom. Our banking industry must also get rid of the shackles of traditional thinking and re conceive a new financial service model in the future

2. All things Zhilian, accelerate financial service innovation

Shanghai Pudong Development Bank has been deploying 5g, IOT, artificial intelligence, cloud computing and other technical fields since 2018. Centering on the core concept of taking customers as the center, 5g and other technologies are used to continuously innovate customer experience, business model and open ecosystem, and expand the breadth, depth and width of financial services

improve customer service experience

customers are always the core of enterprise operation. Banks must take customers as the center, innovate financial services and refresh user experience. 5g gives us a new solution:

let services extend without boundaries

in the future, banking services are not only in banks, but also everywhere. Through the ubiquitous connected 5g network, services can be more efficiently extended to customer business and life scenes, and high-quality audio and video interactive services, AR, Mr immersive experience can be provided

make services more inclusive

Pudong Development Bank has created an AI driven virtual employee digital human Xiaopu, which is a next-generation service model based on Hui and a humanized service connector between the physical and digital worlds

after professional training, Xiaopu can provide risk assessment, financial advisory, investment advice, broadcasting and other services. In the 5g network environment, it can be more perfectly presented on various devices such as, smart watches, cars, etc., making high-quality, personalized and intelligent services more convenient and affordable

make the service more accurate

in the intelligent space of everything, we can realize the real-time perception and intelligent response of customer needs. Provide the most appropriate financial investment, retail consumption and other service suggestions according to the positioning and feedback information of customers' wearable devices

for example, in the point, the identity of the store customer is senselessly recognized, the background intelligent engine is linked to prompt the customer's potential needs and service preferences, and the information is pushed to the handheld pad of the hall service staff to provide customized services for customers. Create the ultimate service experience, zero distance communication, zero mismatch between supply and demand

innovate business management mode

all things Zhilian promotes the bank to evolve business mode to meet social needs

in terms of optimizing the operation and management mode, 5g can help branches achieve remote control and flexible deployment at remote locations; Tong should replace the combination seal ring or O-ring through virtual reality, audio and video double recording, etc., so as to realize online and cloud customer service scenarios such as personal loan and financial consulting

in terms of strengthening the risk control mode, it can realize the integrated matching of business flow, logistics, information flow and capital flow of enterprises, accurately depict the three-dimensional risk view of business entities such as customers, businesses and goods, and provide a new way for bank risk control. Last year, we jointly developed a 4S store inventory vehicle monitoring platform with Huawei to realize the remote supervision of pledged vehicles and the online closed-loop management of the handover process, which can automatically count and check the accounts and materials of vehicles in each 4S store. At the same time, combined with the operation data of the pledge enterprise, we can timely find business abnormalities and give early warning. It effectively overcomes the problems of regional dispersion, information asymmetry, poor risk controllability and high service cost under the traditional mortgage and pledge supervision mode

jointly create a cross-border industrial ecosystem

under the era background of taking the supply side structural reform as the main line and promoting the integrated development of the real economy and the digital economy, banks should become the enabler of releasing the entire socio-economic potential. 5g opens a new field for the banking industry to face vertical industries and cross-border innovation. Shanghai Pudong Development Bank will seize the opportunity of industrial digitalization, promote business operations to be embedded in the real economy scene through financial technology innovation, and deeply integrate with the industrial chain to create a new industrial ecosystem

on the one hand, we should deeply cultivate traditional industries and serve the real economy. All things Zhilian accelerates the digitalization of traditional manufacturing enterprises, and data will become the core asset of industrial interconnection. Based on the production and operation data dynamically collected from enterprises, combined with the multi-dimensional data of industry and commerce, taxation and so on, banks can establish the digital twin of enterprises, build a digital credit system and evaluation model, and carry out enterprise asset quality rating, data asset evaluation, insurance credit rating, etc. more comprehensively, scientifically and dynamically. It can also provide financial analysis, market trends, supply and demand docking and other services based on the business financial status of the enterprise, integrate into the enterprise business value chain, implement precision drip irrigation, empower small and medium-sized enterprises, and comprehensively support the development of the real economy

on the other hand, combine emerging technologies and innovate financial services. The development of 5g will give birth to smart cities, super farms, autonomous driving, etc. in these new fields, there are new scenarios and needs for financial services. For example, in the scenario of vehicle road collaboration, it provides the function of automobile electronic wallet, establishes an intelligent automobile identity authentication system, provides a secure transaction link, and realizes convenient non inductive payment, which can be used for electric vehicle charging, payment, etc. Another example is based on smart home services, which can establish a family big data analysis model for customers, gain insight into customers' financial service needs in advance, and provide exclusive financial services

3. Technology driven, building digital competitiveness

while looking forward to the new opportunities of intergenerational upgrading of information and communication technology, we see that the challenges brought by new technologies, new formats and new models cannot be underestimated. Banks themselves must embrace technology and build digital competitiveness

Shanghai Pudong Development Co., Ltd. is the only domestic carbon fiber that can meet the use demand at present; China's aero-engine demand for superalloys will reach 20000 tons/year. At the beginning of this year, the bank established the new three-year plan to make the samples slide in the experimental process. With the strategic goal of building a first-class joint-stock commercial bank with international competitiveness, and promoting the whole bank to become a pacesetter and pioneer in the high-quality development of the financial industry in the new era, the bank will further strengthen the construction of open banks, driven by customer experience and digital technology, Actively promote the digitalization of the whole stack and transform the momentum of development. From a strategic perspective, we will promote data management, technology upgrading and industrial and financial cooperation in an all-round way

establishing data thinking and giving full play to data value

5g will accelerate the online, digital and intelligent social production and life, followed by the explosive growth of various types of data. Data contains great value and is a production factor that promotes the efficient, coordinated and high-quality development of society

banks must establish data thinking, that is, from the traditional way of providing services and selling products in the past, to the business thinking and mode driven by data and algorithm. On the one hand, lay a good data foundation, establish a forward-looking data layout plan, effectively integrate internal and external data, and strengthen data governance. On the other hand, give full play to the value of data, cut into the production and life scenes of customers through IOT, artificial intelligence, blockchain and other technical means, and realize the immediate perception and response of customer needs, the tracking of the whole process of the supply chain, and the proactive prediction of risks. Use data + intelligence to empower and increase efficiency for customer service, marketing, risk control, operation, etc., and even innovate the operation and management mode to become a data-driven bank

forge scientific and technological capabilities and accelerate the promotion of innovation and development

in the process of innovation and development, Shanghai Pudong Development Bank adheres to forging scientific and technological capabilities, empowers customer service, marketing, operation management, risk compliance and other links with technology, extends the radius of digital services, and constantly innovates models. Technology is the only force that can subvert the business model of banks

we have closely followed the trend of technological development and defined 10 key technologies. Emphasize the research on 5g, AI, IOT, blockchain and other technologies, cultivate the ability of technology driven business innovation, and further consolidate